NEW CORPORATE INCOME TAX RATE APPLIES SINCE JANUARY 1, 2017

NEW CORPORATE INCOME TAX RATE APPLIES SINCE JANUARY 1ST 2017

A surcharge to the income tax rate will apply for years 2017 and 2018. As from 2018 the corporate income tax rate would be 33%

According to new Law 1819 of 2016, a transitional rate of 34% was established for the corporate income tax for 2017. The general rate of 33% will apply from 2018 onwards. A tax surcharge of 6% and 4% was implemented for those corporate taxpayers that receive income exceeding COP $800.000.000 in 2017 and 2018, respectively.